Election aftermath: Compromise or deadlock
Accounting Today
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When it comes to tax legislation, expect 'small ball' in an era of divided government, and more of today’s top stories.
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Elections have consequences, and last week's midterm elections will produce their share as we roll into another legislative session.
In other news today:
The Regional Leader received an undisclosed amount of funding from Broad Sky Partners.
The Governmental Accounting Standards Board issued proposed implementation guidance in the form of questions and answers to clarify different pronouncements.
Grants to charities from donor-advised funds grew 28% last year, according to a new report, as DAFs also come under scrutiny for helping the wealthy shield their money from taxes.
The financial industry veteran will be overseeing the Financial Accounting Standards Board and the Governmental Accounting Standards Board.
Republicans — who are expected to control the House as of January — want tax breaks for private equity, manufacturers and businesses. For their part, Democrats want to expand the child tax credit.